Stakeholders Series | Staying competitive and relevant as a workforce

Updated: Sep 15

By Smith Leong

Being the generation that will inherit the future (and the baggage) of our tiny nation, how much power do we have to effect change today?

Trade and Industry Minister Chan Chun Sing shared his thoughts in response to questions on global changes and their implications on our future as a nation. Here are some excerpts of his responses that are related to an evolving job climate.

1. Be prepared for jobs to change - Singapore Perspectives 2020

Economic structures will fundamentally be quite different, and it means that the types of jobs that can be created for our own people will be quite different.

And the job creation process cannot be done overnight, because as we shift industry structures, we must also keep in mind about the jobs being displaced. And these are jobs that many of our people are working in.

500,000 Singapore workers (21% of the workforce) are expected to be displaced by 2028 (Source)

So, yes, we are looking at that, and we are thinking of how to make sure that we insulate ourselves against all these difficult problems that may come and confront us, but we can all do something to unlock that energy and carbon puzzle confronting us today.

2. How does the change look like? - Digitise ASEAN

EDB secured investment commitments creating 32,814 jobs over the next few years. (Source)

I am optimistic that Singapore’s economy remains resilient, despite a weakened global economic environment. But we will expect to see a change in the composition of jobs in the coming years.